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[ConfusingJazz]

http://money.cnn.com/2005/02/09/technology/hp_fiorina/index.htm?cnn=yes#correction

Thats right, everybodies favorite female CEO was finally forced out of HP, but instead of just kicking her out and letting the door hit her, they give her $21 million and stock options? After making a giant blunder of purchasing Compaq and almost running the company to the ground, she gets paid that well? Didn't she make enough while being CEO?

However, once news reached New York about this, HP's stock jumped 6.9%, which makes me smile just a little inside.

 

[Baconäger]

Thats right, everybodies favorite female CEO was finally forced out of HP, but instead of just kicking her out and letting the door hit her, they give her $21 million and stock options?

They're called contracts.

 

[Grifter]

You missed the memo where rewarding fuckups became official policy for those in power.

 

[Minotauro]

That amount of money is just mind-boggling to me. Shit, if I somehow came across 3 million or so, I'd immediately retire. Then again, this is largely theoretical and maybe that much money would just make me want more.

 

[Lathentar]

That amount of money is just mind-boggling to me. Shit, if I somehow came across 3 million or so, I'd immediately retire. Then again, this is largely theoretical and maybe that much money would just make me want more.

Thats probably the biggest lie I've heard all day.

 

[Minotauro]

Thats probably the biggest lie I've heard all day.

Bullshit. I don't need that much money. I'd much rather just take my money and run. Work is horrible and if I was put into a position where I could stop working for the rest of my life, I'd jump at it. Plus, I'm never reproducing so it's not like I need to worry about passing money on to my children.

 

[Blackie]

They're called contracts.

That's what I was thinking the case was. There's no way that the board that fired her for her incompetency would give her such a huge payoff as a reward for sucking.

 

[Loki]

That's what I was thinking the case was. There's no way that the board that fired her for her incompetency would give her such a huge payoff as a reward for sucking.

Golden parachutes happen all the time, and no, they're not always written into the contract; rather, they're often "voted on" by boards of directors, who, in this age of interlocking directorates, are often execs of other companies with a vested interest in maintaining the status quo (i.e., the "we get paid obscene amount of money no matter what" paradigm).


But hey, I'm sure that such things are in the stockholders' interests. After all, how could only $10-20M per year plus stock options entice a competent CEO to take a position at a company. Surely they have to throw in the $20M+ payoff should they be forced to resign due to incompetence, else-- as Latrell Sprewell laments-- how will these CEO's feed their families? :lol Surely no self-respecting CEO would take such a position without such stipulations written in-- I mean, how would they get by?


I feel for modern CEO's (American CEO's, mind you-- the CEO's of other nations earn an average of only 5-45% of what ours do depending on the nation in question). No, really, I do.

 

[Phoenix]

That's what I was thinking the case was. There's no way that the board that fired her for her incompetency would give her such a huge payoff as a reward for sucking.

Most CEOs and executives in corporate America have contracts that protect their employment and outline what they get as a windfall should the company decide to give them the boot. No CEO in the Fortune 1000 will ever be for want - even if they get fired. This is in addition to the options, loans, perks, and other foolishness that comes to the person the furthest away from the people who actually do work, provide innovation, and shoulder the burdon of fuckups by executives.

 

[TheOMan]

Most CEOs and executives in corporate America have contracts that protect their employment and outline what they get as a windfall should the company decide to give them the boot. No CEO in the Fortune 1000 will ever be for want - even if they get fired. This is in addition to the options, loans, perks, and other foolishness that comes to the person the furthest away from the people who actually do work, provide innovation, and shoulder the burdon of fuckups by executives.

I couldn't have said (typed) it better myself and it burns me up every time I think about it

 

[Triumph]

CEOs will be the first up against the wall when the Revolution comes.